Trump, Mnuchin ask big companies to return SBA loans

President Donald Trump and Treasury Secretary Steven Mnuchin said Tuesday they would ask big businesses who got loans from the Paycheck Protection Program to return the money.

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Author: Rafael

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38 thoughts on “Trump, Mnuchin ask big companies to return SBA loans

  1. If the money is there for the taking, and there are no set rules then it is easy money. Business is Business. Morality and Business have an uneasy relationship. It will always be that way.

  2. what a coincidence didn't/doesn't Dr F, have connections to overseeing money disbursements from us treasury funding which would have encompassed Harvard?

  3. gee maybe government oversight is a good thing after all. who knew? I guarantee non of them give it back it's already split up to upper management bonuses

  4. please give it back… somehow I don't think asking big business nicely will work. what did they think would happen with no oversight? they would suddenly do the right thing? dumbasses

  5. I disagree with the President on 99.9% of the things that are not for the people but Mr. President I take my hat off and congratulate you when I heard you say those big companies will give the money back. Thank you

  6. Harvard gets so much attention?! The Lone Star State might get jealous since it got more bailout money than even the pandemic's epicenter New York State.

  7. Another F….up by the Trumpet administration. The only reason they are announcing is because they got called out on it. Meanwhile a lot of these small businesses will go out of business because of the delay.

  8. why didn't they put a cap on the loans, instead of just opening the bag and letting them grab what they wanted? Oh ya the government was running this!!!

  9. Didnt uhhh he just fire the oversight chairman last week just prior to handing out the cash?

    I think he may have been able to help you guys out, dont you think Mr. Pres?

  10. Huge banks, such as JPMC, have siphoned off $10 billion in “fees” for processing loan applications under the Paycheck Protection program.
    These banks appear to have processed loans with an eye toward maximizing their own revenues rather than helping strapped, smaller companies.

  11. The reason these big corporations got caught helping themselves to the public purse is because a free, vigilant media is doing its job.

    Trump supporters should think about that next time they robotically bray about “fake news.”

  12. They do not want to help people. Mnuchian made all his money by taking the equity from people in the last disaster. In chaos you can steel(Randi Rhodes)

  13. Didn't the orange idiot fire the oversight people? Lol lol. Makes you wonder what it'll take to convince these maga morons their emperor is a criminal.

  14. The big businesses that took money should have their names published for being greedy selfish undeserving *ssholes. So people could choose to not do business with them.

  15. I work for a small in-state only credit union who is a lender for PPP. This thing was thrown at us late at night with no procedures and the vaguest of instructions. We worked our asses off with a staff of 5 people to accept something like 200-300 applications in the first week or so, pulling in as many other staff as possible who had time to open new business accounts and all the work that goes into that because many of the borrowers didn't have them with us and to fund the loans once approval came back from the SBA. I believe we were able to fund 140 or so of the loans before the money ran out. It was a herculean effort just to get as many processed as quick as we did with no previous process for this type of loan. I imagine this was the case at many small FI's around the country. Now imagine Bank of America and JPMorganChase, and the HUGE accounts they have that were somehow able to qualify for this, and tell me they weren't put at the front of the line. Go ahead, I'll wait.

  16. All politicians need to be fired, let’s drain the whole swamp and start over again. Put term limits on the politicians and start jailing those who get caught doing shady business. Including the President of the USA, who thinks he is the dictator of America.

  17. OOPS, they got caught. Changed their tune, eh. All you small business Trump supporters should have just learned something. You gotta catch this administration or they will screw you to help the big money donors. Unfortunately the Big money Dems are the flip side of the same coin. We must reform election financing. 5 dollar tax on everyone and use that money to pay for election campaigns. Both parties get equal money. No donations. That's all the election money that can be spent. Politicians would be harder to buy.

  18. This is what happens when vetting is not done or conditions.are not set, whether it is a tax cut or stimulus payout. Expectations are not the same as vetting and conditions. Nothing is foolproof but not vetting and not setting parameters or requirements is foolish.

  19. Maybe if the people responsible for oversight hadn’t been fired, just before you released the money, this wouldn’t be an issue. We knew exactly what would happen without oversight, you did too. It happened. This bailout should not go to any big companies that reported millions in profits

  20. Reporter: " Who will oversight this moneys going out?"
    trump: " I will oversight it and i am doing a great job". trump is a DISGRACE & HIS ENTIRE ADMINISTRATION TOO.

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